Segment-level analysis in terms of technology, component, and type along with Europe Active, Smart and Intelligent Packaging Market size forecasts and estimations to detect key areas of industry growth in detail
According to the report “Europe Active, Smart and Intelligent Packaging Market by Application (Frozen processed food, Chilled processed food, Dried processed food, Dairy, Packaged food, Meat and poultry, Sea food), by Technology (Active Packaging, Modified atmosphere packaging, Intelligent Packaging), and by Region – Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)” published by Market Data Forecast, the Europe Active, Smart and Intelligent Packaging Market was worth USD6.67 billion in 2016 and estimated to be growing at a CAGR of 5.77%, to reach USD8.82 billion by 2021.
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Packaging of a product not only ensures a safe reach to the final user, but it also affects the way the product is being perceived by the consumers from the marketing perspective. The food and beverage packaging has changed from traditional packaging to advanced packaging.
Traditional packaging is only concerned with issues related to protection from factors which are external to it.However, advanced packaging is concerned with both internal (active packaging) and external (intelligent packaging) with the environment; and improves the visual appeal of the products also.
That is why the manufacturers of food and beverages and packaging manufacturers are vying to find ways by which chemical, physical and microbial textures change inside the packaged food as well.
Technological advancements such as smart packaging, modified atmosphere packaging and active and intelligent packaging are now overshadowing traditional methods such as canning. Moreover, smart and active packaging also makes it easier to process bulk transportation.
With the advent of recent technological advancements, innovative packaging alternatives are now available for the manufacturers to increase their consumer strength and capture more market share. The food industry, which is currently on a boom, is the primary driver in the Europe active, smart, and intelligent packaging market.
the ever-escalating demand for packaging that can more efficiently control moisture and gas, are among the leading drivers.
Europe advanced packaging technology market is going through an over-all high growth due to the increasing demand for convenience food such as ready-to-cook meal, sustainable packaging and strict food safety regulations. Growing health awareness, food wastage problems, and manufacturers’ concern for longer shelf life of the food products and supply chain inefficiencies are the other factors driving the growth of the market.
Moreover, the consumers’ satisfaction level with regards to packaged food, threat of bioterrorism, organized food safety regulations and increased applications in ready-to-eat meals and frozen foods have created immense opportunities for advanced packaging technology market.
The Europe market for Active, Smart and Intelligent Packaging is categorized by Application (Packaged food, Chilled processed food, Dried processed food, Frozen processed food, Dairy, Meat and poultry and Sea food). Based on Technology, the market is further segmented into Modified atmosphere packaging, Active Packaging and Intelligent Packaging.
The Modified atmosphere packaging market accounted for the highest revenue in 2016 while Active and smart packaging technology is estimated to grow at the fastest rate. On the basis of geography, the Europe market is analysed under various regions namely United Kingdom, Spain, Germany, Italy,.
The Active packaging market held the second highest market share, with a market share of about 30% in Europe.
Some of the major companies dominating the market, by their products and services include M&G USA Corporation, Sysco Corporation Sealed Air Corporation, Multisorb Technologies, Ball Corporation, Amcor limited, Eastman Chemical Company, Timestrip PLC and Paksense Incorporate.
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